Salomon & Ludwin LLC Sells 228 Shares of Chevron Co. (NYSE:CVX)

Salomon & Ludwin LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 8.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,603 shares of the oil and gas company’s stock after selling 228 shares during the period. Salomon & Ludwin LLC’s holdings in Chevron were worth $377,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Marshall Financial Group LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $202,000. AlphaMark Advisors LLC increased its position in shares of Chevron by 19.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,233 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 202 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Chevron by 0.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after purchasing an additional 261 shares in the last quarter. Stratos Investment Management LLC increased its position in shares of Chevron by 15.4% during the 3rd quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock worth $4,910,000 after purchasing an additional 4,443 shares in the last quarter. Finally, Precedent Wealth Partners LLC increased its position in Chevron by 9.5% in the 3rd quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock valued at $1,601,000 after acquiring an additional 945 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.4 %

Chevron stock opened at $155.32 on Friday. The company’s 50 day simple moving average is $151.86 and its 200 day simple moving average is $150.86. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business posted $3.45 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.